Republicans · Federal Reserve (FED) · Donald Trump · Crypto Briefing
Republicans divided over pre-election stimulus push as economy slows
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◎ Multiple-sources
Intra-party fractures over tariffs and trade policy are complicating GOP efforts to project economic confidence ahead of the November midterms.
Key facts
- The Commerce Department’s August 26 revision confirmed the 1.5% GDP figure for Q2, offering no upward surprise to cling
- Monthly PCE ticked up 0.2% in July, slightly hotter than the 0.1% economists had penciled
- The Personal Consumption Expenditures price index, the Fed’s preferred gauge, held at 3.7% year-over-year in July
- With roughly 10 weeks until the November midterms, Republican lawmakers are publicly feuding over whether to push emergency economic legislation
Summary
With roughly 10 weeks until the November midterms, Republican lawmakers are publicly feuding over whether to push emergency economic legislation. The Commerce Department’s August 26 revision confirmed the 1.5% GDP figure for Q2, offering no upward surprise to cling to. The Personal Consumption Expenditures price index, the Fed’s preferred gauge, held at 3.7% year-over-year in July. Monthly PCE ticked up 0.2% in July, slightly hotter than the 0.1% economists had penciled in.